News archive

• New Working Paper 2025-06-16

  "The Economic Costs of Ambiguous Laws" by Luigi Guiso and Claudio Michelacci (with Tommaso Giommoni and Massimo Morelli). More ...

• New Working Paper 2025-06-05

  "Entrepreneurs' Diversification and Labor Income Risk" by Marco Pagano (with Jan Bena, Andrew Ellul and Valentina Rutigliano). More ...

• New Working Paper 2025-05-02

  "Women Behind Bars: Do Single-Gender Prisons Reduce Recidivism?" by Daniele Terlizzese (with F. Calamunci, G. Daniele and G. Mastrobuoni). More...

• Funding for Research Projects 2025-01-31

  EIEF offers funds for research projects in economics and finance to researchers based in Italian institutions. Submit your applications by April 18, 2025. More...

• Recruitment for Administrative Staff 2025-01-13

  EIEF is searching for a person with administrative experience for a full-time position. The deadline for applications is February 17, 2025. For further details, please see the job advertisement.

• Francesco Lippi elected Fellow of the Econometric Society 2024-10-11

  Francesco Lippi is one of the newly elected Fellows of the Econometric Society, the international society for the advancement of economic theory. Fellows represent the highest authority of the Econometric Society and elect its officers, Council and new fellows. Well deserved Francesco!

• Important appointment for Emanuele Tarantino 2024-10-03

  Emanuele Tarantino has been nominated Chief Competition Economist at the Directorate-General for Competition (DG COMP) of the European Commission. The official link is here. Congratulations to Emanuele!

• Prestigious award to Luigi Guiso 2024-10-03

  We are proud to announce that Luigi Guiso (AXA Chair) has won the prestigious “Premio De Sanctis for Economic Science” (Giants in Economics). You can view the winners from the past two editions here. Well done, Luigi!

• New Working Paper 2024-09-24

  "Approximately Optimal Auctions with a Strong Bidder" by Luca Anderlini and GaOn Kim. More ...

• A new Faculty Member at EIEF 2024-09-04

  EIEF warmly welcomes Sara Casella (Luiss University), who has joined EIEF’s faculty as a Research Affiliate.

• New Fellow at EIEF 2024-06-24

  EIEF warmly welcomes Stefano Gagliarducci who is joining the Faculty as a Fellow. Stefano is a Professor of Economics at Tor Vergata University of Rome and Director of the Rome Economics Doctorate (RED) program. His interests include Political Economy, Labor Economics and Applied Microeconometrics.

• A warm welcome to 2 new researchers at EIEF 2024-05-15

  EIEF welcomes Bernardo S.C. Ribeiro and Gaia Dossi. Bernardo will join the faculty in May 2025 as an Assistant Professor. He holds a PhD from Yale University and his research interests include macroeconomics, growth, innovation and international trade. Starting in the summer of 2024 Bernardo will spend one year as Postdoctoral Associate at Princeton University. Gaia will join the faculty in the summer of 2025 as an Assistant Professor. She holds a PhD from London School of Economics and works on labor, innovation, health, and political economy. Starting in the summer of 2024 Gaia will spend one year as post-doc at the Stone Centre of the University College London.

• New Working Paper 2024-03-19

  "When is Trust Robust?" by Daniele Terlizzese (with Luca Anderlini and Larry Samuelson). More...

• A new tenured position at EIEF 2024-02-01

  Mounu Prem (Francisco Muñoz), who joined the Institute in 2022 after completing his PhD at Stanford University in 2016, is EIEF’s third tenured Associate Professor. The EIEF faculty would like to send their warmest congratulations on this achievement and wish him all the best for his future career.

• RED takes off 2023-09-04

  EIEF warmly welcomes the RED class of 2023. The Rome Economics Doctorate (RED) is a new challenging and selective PhD program in Economics run by EIEF, Luiss, and the University of Rome Tor Vergata. For more info, please visit the program's website. 

• New Director of EIEF 2023-07-28

  EIEF warmly welcomes Massimo Sbracia, who is joining us, starting August 1, 2023, as the new Director of the Institute. Massimo is an economist at the Bank of Italy and his interests include International Finance and International Trade. He takes the position held, since EIEF’s inception, by Daniele Terlizzese. Daniele, who retires from the Bank of Italy, will continue collaborating with EIEF.

• A warm welcome to two new researchers at EIEF 2023-03-29

  EIEF welcomes João Monteiro and Zhang Chen. João will join the faculty in July as an Assistant Professor. He holds a PhD from Northwestern University and his research interests include corporate finance and international trade. Zhang will join the faculty in September as a Postdoctoral Researcher. He holds a PhD from Princeton University and works on macroeconomics, with a special interest in knowledge diffusion, firm dynamics and economic growth.

• New Working Papers 2023-01-27

  "How much and how fast do investors respond to equity premium changes? Evidence from wealth taxation" by Luigi Guiso (with A. Fagereng and M. Ring) and "Refining Public Policies with Machine Learning: The Case of Tax Auditing" by Luigi Guiso, Marco Battaglini and Eleonora Patacchini (with C. Lacava and D. Miller). More ...

• Funding for Research Projects 2023-01-23

  EIEF offers funds for research projects in economics and finance to researchers based in Italian institutions. Submit your applications by April 21, 2023. More...

• Congratulations to Barbara Biasi 2022-11-24

  The European Research Council (ERC) has awarded a “Starting Grant” to Barbara Biasi for her research proposal “Teachers' Careers, The Creation of Educational Content, And Students' Outcomes”. The aim of the project is to study non-monetary aspects of educators’ careers and how they impact the selection and retention of talents into the profession.

• EIEF congratulates Luigi Guiso for a prestigious award from the American Economic Association 2022-04-28

  The American Economic Association elected Luigi Guiso, AXA Professor of Household Finance at EIEF, as Foreign Honorary Member. Luigi is now one of the only 5 Italians in this prestigious list.

• A warm welcome to our new Assistant Professor 2022-03-16

  EIEF warmly welcomes Mounu Prem (Francisco Muñoz), who has joined the faculty as an Assistant Professor. Mounu holds a PhD from Stanford University and currently works as Adjunct Professor in Universidad del Rosario. His research interest include Political Economy, Development Economics, Corporate Finance, and Economic History.

• New Working Paper 2021-12-02

  "Adams and Eves: The Gender Gap in Economics Majors" by Graziella Bertocchi (with Luca Bonacini and Marina Murat). More ... 

• New Working Papers 2021-11-22

  "Loan Guarantees, Bank Lending and Credit Risk Reallocation" by Marco Pagano and Andrea Polo (with C. Altavilla and T. Vlassopoulos) and "The Geography of Investor Attention" by Marco Pagano (with S. Mengoli and P. Pattitoni). More ...

• Congratulations to Luigi Guiso and Francesco Lippi 2021-09-22

  It is our pleasure to announce that two members of our Faculty have received important international awards. Luigi Guiso has been elected Fellow of the Econometric Society while Francesco Lippi has been appointed Editor in Chief of The Economic...

• New Fellow at EIEF 2021-09-13

  EEIF warmly welcomes Pietro Reichlin who is joining the Faculty as a Fellow. Pietro is full Professor of Economics at LUISS Guido Carli and Co-Director of the RoME program. His interests include Macroeconomics, Monetary, Theory, Financial Markets, and Business Cycle.

• New Working Papers 2021-06-04

  "Empirical Investigation of a Sufficient Statistic for Monetary Shocks" by Francesco Lippi (with F. Alvarez, A. Ferrara, E. Gautier and H. Le Bihan) and "Cash: A Blessing or a Curse?" by Francesco Lippi (with F. Alvarez, D. Argente and R. Jimenez). More ...

• A new Faculty Member at EIEF 2021-05-06

  EIEF warmly welcomes Emilio Calvano (Università di Bologna), who has joined EIEF’s faculty as a Research Affiliate.  

• New Working Paper 2021-05-06

  "Weighted-average least squares (WALS): Confidence and prediction intervals" by Franco Peracchi (with Giuseppe De Luca and Jan R. Magnus). More ...

• New Working Paper 2021-04-09

  "Assessing Alternative Indicators for Covid-19 Policy Evaluation, with a Counterfactual for Sweden" by Franco Peracchi and Giancarlo Spagnolo (with Chiara Latour). More ...

• New Working Paper 2021-03-31

  "COVID-19, Race, and Gender" by Graziella Bertocchi (with Arcangelo Dimico). More ... 

• New Working Paper 2021-03-29

  "Asymmetric Information and Corporate Lending: Evidence from SMEs Bond Markets" by Luana Zaccaria (with Alessandra Iannamorelli, Stefano Nobili and Antonio Scalia). More ...

• New Working Papers 2021-03-02

  "The Macro Impact of Noncompete Contracts" by Liyan Shi and "Repurchase Options in the Market for Lemons" by Liyan Shi (with Saki Bigio). More ...

• New Working Paper 2021-02-25

  "Faith and Assimilation: Italian Immigrants in the US" by Stefano Gagliarducci (with M. Tabellini). More ... 

• Funding for Research Projects 2021-02-08

  EIEF offers funds for research projects in economics and finance to researchers based in Italian institutions. Submit your applications by March 19th 2021. More...

• New Working Paper 2021-02-05

  "From Patriarchy to Partnership: Gender Equality and Household Finance" by Luigi Guiso and Luana Zaccaria. More ... 

• Rome Economics Doctorate (RED) 2021-01-05

  A new challenging and selective Ph.D. program in Economics run by EIEF, Luiss Guido Carli and University of Rome Tor Vergata, for highly talented students with an advanced MSc-level background in Economics. Applications are now open. More …

• Junior Job Market: 2 openings for Assistant Professors 2020-09-24

  EIEF will be present at both the European Job Market and the ASSA Annual Meeting that will be held online. Shortlisted candidates will be invited for virtual interviews on either of the two markets. Announcement.

• COVID-19 Forum 2020-09-09

  A NEW PAGE to collect analyses by EIEF faculty and other researchers on the pandemic crisis.

• New Working Paper 2020-09-08

  "Affinity, Trust, and Information" by Luigi Guiso and Alexey Makarin. More ...

• Online Workshop on “Mean Field Games in Economics” 2020-08-28

  On September 7-8, 2020 EIEF and LUISS University will host the online workshop “Mean Field Games in Economics”. For further details see the Program. 

• New Working Paper 2020-07-17

  "Risk Sharing within the Firm: A Primer" by Marco Pagano. More ...

• New Working Paper 2020-07-07

  "COVID-19, Race, and Redlining" by Graziella Bertocchi (with A. Dimico). More ...

• New Working Paper 2020-06-25

  "The Macroeconomics of Sticky Prices with Generalized Hazard Functions" by Francesco Lippi (with F. Alvarez and A. Oskolkov). More ... 

• New Working Papers 2020-05-29

  "Estimating the prevalence of the COVID-19 infection, with an application to Italy" by Franco Peracchi and Daniele Terlizzese, "The COVID-19 Shock and Equity Shortfall: Firm-level Evidence from Italy" by Marco Pagano (with E. Carletti, T. Oliviero, L. Pelizzon and M. Subramanyam) and "Bitter Sugar: Slavery and the Black Family" by Graziella Bertocchi (with A. Dimico). More ...

• New Working Papers 2020-05-25

  "Are Executives in Short Supply? Evidence from Deaths' Events" by Fabiano Schivardi (with J. Sauvagnat) and "Interlocking Directorates and Competition in Banking" by Fabiano Schivardi (with G. Barone and E. Sette). More ...

• New Working Papers 2020-05-25

  "Disaster Resilience and Asset Prices" by Marco Pagano (with C. Wagner and J. Zechner) and "The Macroeconomics of Hedging Income Shares" by Juan Passadore and Facundo Piguillem (with A. Grasso). More ...

• New Working Paper 2020-05-06

  "Careers in Finance" by Marco Pagano (with A. Ellul and A. Scognamiglio). More ...

• Activity Update 2020-04-20

  PLEASE BE INFORMED THAT DUE TO THE COVID-19 HEALTH CONCERNS, SEMINARS ARE SUSPENDED UNTIL FURTHER NOTICE. EIEF will keep you updated on changes to this directive. 

• New Working Paper 2020-04-17

  "Aggregate Risk or Aggregate Uncertainty? Evidence from UK Households" by Claudio Michelacci e Luigi Paciello. More ... 

• Webinar "Predicting and Monitoring COVID-19 contagion" 2020-04-09

  On April 22, 2020, at 5 pm CEST, EIEF invites you to join a webinar on "Predicting and Monitoring COVID-19 contagion" presented by Paolo Giudici (University of Pavia with Centre for European Policy Studies) and Franco Peracchi (Georgetwon University, EIEF and University of Tor Vergata).  

• New Working Paper 2020-03-30

  "A Simple Planning Problem forCOVID-19 Lockdown" by Francesco Lippi (with Fernando Alvarez and David Argente). More ...

• New Working Paper 2020-03-27

  "The Optimal COVID-19 Quarantine and Testing Policies" by Facundo Piguillem and Liyan Shi. More ...

• New Working Paper 2020-03-09

  "Sampling properties of the Bayesian posterior mean with an application to WALS estimation" by Franco Peracchi (with G. De Luca and Jan R. Magnus). More ...

• A warm welcome to our new Assistant Professor 2020-03-02

  EIEF warmly welcomes Liangjie Wu, who will soon join the faculty as an Assistant Professor. Liangjie is completing his PhD at the University of Chicago and works in macroeconomics and labor economics. 

• New Working Paper 2020-01-16

  "K-Returns to Education" by Luigi Guiso (with A. Fagereng, M. B. Holm and L. Pistaferri). More ... 

• New Working Paper 2020-01-09

  "The Insurance Role of the Firm" by Luigi Guiso (with L. Pistaferri). More ...

• Conference on Recent Advances in Macroeconomics 2019-12-02

  On December 13-14, 2019, EIEF will host the Conference “Recent Advances in Macroeconomics”. For further details see the Program. 

• EIEF was awarded one of the three Top-up Foscolo Europe Fellowships 2019-11-21

  UniCredit Foundation selected EIEF as one of the three recipients of a 3-year top-up fellowship, assigned to the three best departments or research institutes in Economics or Finance, among those in the 14 countries where Unicredit operates, to help participation in the US or European PhD job markets. EIEF is thankful and honored by this award.  

• Funding for research projects 2019-11-14

  EIEF offers funds for research projects in economics and finance to researches based in Italian institutions. Submit your application by March 13, 2020. More...

• Junior Job Market : 2 openings for Assistant Professors 2019-09-06

  EIEF will be present at both the European Job Market in Rotterdam (Netherlands) and the ASSA Annual Meeting in San Diego (USA). Shortlisted candidates will be invited for interviews on either of the 2 markets. Announcement.  

• A new Assistant Professor at EIEF 2019-08-22

  EIEF warmly welcomes Alexey Makarin (Northwestern University) who has just joined our Faculty as an Assistant Professor. He works in applied micro, political economy and development economics.  

• New Working Paper 2019-07-18

  "Multidimensional Diffusion Processes in Dynamic Online Networks" by Eleonora Patacchini (with D. Easley and C. Rojas). More ...

• 2018 Grants 2019-06-06

  EIEF has awarded funds for 6 one-year research projects. More...  

• New Working Paper 2019-06-04

  “Posterior moments and quantiles for the normal location model with Laplace prior” by Franco Peracchi (with Giuseppe De Luca and Jan R. Magnus). More ... 

• New Working Paper 2019-05-31

  "The Analytic Theory of a Monetary Shock" by Francesco Lippi (with F. Alvarez). More ...

• New Working Paper 2019-05-14

  "(Macro) Prudential Taxation of Good News" by Facundo Piguillem (with Jean Flemming and Jean-Paul L’Huillier). More ...

• New Working Papers 2019-05-06

  “Hurricanes, Climate Change Policies and Electoral Accountability” by Stefano Gagliarducci and Eleonora Patacchini (with M. Daniele Paserman) and “Simple fiscal arithmetic of a dual currency regime” by Francesco Lippi. More …  

• EIEF Newsletter 2019-05-02

  EIEF took its first steps about ten years ago. In this issue Daniele Terlizzese gives a review of the results achieved so far. To learn more, please click here.  

• New Working Paper 2019-04-19

  "The Extensive Margin of Aggregate Consumption Demand" by Claudio Michelacci, Luigi Paciello and Andrea Pozzi. More...

• New Working Paper 2019-04-17

  "Monetary Policy in a World of Cryptocurrencies" by Pierpaolo Benigno. More ...

• A warm welcome to our new Assistant Professors 2019-04-09

  Alexey Makarin, currently at Northwestern University, and Matteo Paradisi, currently at Harvard University (and with a post-doc position at NBER until summer 2020), were hired on the 2019 international job-market. They both work in applied microeconomics, Alexey with a focus on political economy and Matteo on labor and public economics. 

• New Working Paper 2019-04-09

  "Tax Professionals: Tax-Evasion Facilitators or Information Hubs?" by Marco Battaglini, Luigi Guiso and Eleonora Patacchini (with Chiara Lacava). More ...

• New Working Paper 2019-03-27

  “Weight, Reference Points, and the Onset of Eating Disorders” by Eleonora Patacchini (with T. Arduini and D. Iorio). More ...

• “Austerity: when it works and when it doesn't” 2019-03-19

  On April 2, 2019, EIEF will host the presentation of Carlo Favero and Francesco Giavazzi’s new book, written together with Alberto Alesina. More…

• New Working Paper 2019-03-19

  "Coalition Formation in Legislative Bargaining" by Marco Battaglini (Cornell University and EIEF). More ...

• New Working Paper 2019-02-06

  "A nonlinear dynamic factor model of health and medical treatment" by Franco Peracchi (with Claudio Rossetti). More ...

• In the Highlights 2019-01-22

  Every year, Clarivate Analytics compiles a list of the most influential scientists in various branches of knowledge. Luigi Guiso is the only Italian economist based in Italy included in the 2018 Highly Cited Researchers report. 

• A new Faculty Member at EIEF 2019-01-16

  EIEF warmly welcomes Andrea Polo (LUISS Guido Carli), who has joined EIEF’s faculty as a Research Affiliate.  

• In the Highlights 2019-01-16

  Francesco Lippi has been newly appointed Joint Managing Director of the Economic Journal. EIEF warmly congratulates him for obtaining such a prestigious position.  

• Funding for research projects 2018-12-11

  EIEF offers funds for research projects in economics and finance to researchers based in Italian institutions. Submit your application by March 15, 2019. More ...

• “The Jobs Act: Lost Opportunity or Basis for a New Start?” 2018-12-05

  On December 12, 2018, EIEF will host the presentation of a series of studies collected by Economia Italiana on the Italian Jobs Act. Please be informed that the conference will be in Italian. More …

• The World Bank Report “Fair Progress? Economic Mobility across Generations around the World” 2018-12-05

  On December 17, 2018, EIEF will host the presentation of the World Bank Report “Fair Progress? Economic Mobility across Generations around the World”. More … 

• 8th EIEF-UNIBO-IGIER Bocconi Workshop on Industrial Organization 2018-11-28

  The 8th EIEF-UNIBO-IGIER Bocconi Workshop on Industrial Organization will be held at EIEF on 20-21 December 2018. For further details see the Program. 

• 1st EIEF and Oliver Wyman Lecture in Finance, Law and Behavioral Studies 2018-11-15

  On the 27th November 2018, EIEF will host a lecture on “Law and order: How Law and Regulation Can Affect Our Economies”. More … 

• New Working Paper 2018-09-28

  "Self-assessed cognitive ability and financial wealth: Are people aware of their cognitive decline?" by Franco Peracchi (with Fabrizio Mazzonna). More ...

• Call for papers: 8th EIEF-UNIBO-IGIER Bocconi Workshop on Industrial Organization 2018-09-17

  On December 20-21, 2018, the 8th EIEF-UNIBO-IGIER Bocconi Workshop on Industrial Organization will be held at EIEF. The submission deadline is October 29, 2018. For details, please see the Call for papers.

• Junior Job Market : 1 opening for Assistant Professors 2018-09-17

  EIEF will be present at both the 2018 first European Job Market in Naples and the ASSA meetings in Atlanta (USA). Shortlisted candidates will be invited for interviews on either of the 2 markets. Announcement.

• The Economic Determinants of Populism 2018-07-10

  On July 17, 2018, EIEF will host the conference on “The Economic Determinants of Populism". For further details and Program click here. Attendance by registration only. 

• EEA European Job Market 2018-07-10

  The EEA will organize the first edition of the European Job Market, on 6-7 December 2018, in Naples, Italy. For more information watch this video and read this page on the EEA website.  

• New Assistant Professor at EIEF 2018-06-22

  EIEF warmly welcomes Liyan Shi (UCLA) who has just joined our Faculty as an Assistant Professor.

• New Working Paper 2018-06-15

  "Investment in Financial Information and Portfolio Performance" by Luigi Guiso (with Tullio Jappelli). More ...

• 3rd Rome Junior Conference on Applied Microeconomics 2018-06-01

  On June 21-22, 2018, EIEF will host the “3rd Rome Junior Conference on Applied Microeconomics”. For further details see the Program. Attendance by registration only within Monday, June 18, 2018.  

• 7th Rome Conference on Macroeconomics 2018-06-01

  On June 11-12, 2018, EIEF will host the “7th Rome Conference on Macroeconomics” (aka Pizzanomics). For further details see the Program. Attendance by registration only within Wednesday, June 6, 2018.

• 2017 Grants 2018-05-09

  EIEF has awarded funds for 5 one-year research projects. More... 

• New Working Paper 2018-05-08

  "Global Crises and Populism: the Role of Eurozone Institutions" by Luigi Guiso (with H. Herrera, M. Morelli and T. Sonno). More ...

• 3rd Rome Junior Finance Conference 2018-04-26

  On June 5-6, 2018, EIEF will host the “3rd Rome Junior Finance Conference”. For further details see the Program. Attendance by registration only at This email address is being protected from spambots. You need JavaScript enabled to view it. document.getElementById('cloak6f26d6821c4820e3bfba6e574901dabf').innerHTML = ''; var prefix = 'ma' + 'il' + 'to'; var path = 'hr' + 'ef' + '='; var addy6f26d6821c4820e3bfba6e574901dabf = 'ifo' + '@'; addy6f26d6821c4820e3bfba6e574901dabf = addy6f26d6821c4820e3bfba6e574901dabf + 'eief' + '.' + 'it'; var addy_text6f26d6821c4820e3bfba6e574901dabf = 'info@eief.it.';document.getElementById('cloak6f26d6821c4820e3bfba6e574901dabf').innerHTML += ''+addy_text6f26d6821c4820e3bfba6e574901dabf+'';

• EIEF Newsletter 2018-04-24

  In this issue Marco Pagano argues that the creation of an internationally diversified Sovereign Bond (SBBS), whose senior tranche would have virtually no exposure to sovereign risk, would help banks to diversify their portfolios and to avoid the diabolic loop between their own solvency and that of their Government. To learn more, please click here.  

• New Working Paper 2018-03-28

  "The IT Revolution and Southern Europe’s Two Lost Decades" by Fabiano Schivardi (with T. Schmitz). More ...

• 2018 Hicks-Tinbergen Award 2018-03-19

  Luigi Guiso, AXA Professor of Household Finance at EIEF, Paola Sapienza (Northwestern University) and Luigi Zingales (Chicago Booth School of Business) have been awarded the 2018 Hicks-Tinbergen medal for their paper “Long-Term Persistence”, which is one of the first studies establishing a link between specific historical modes of governance and current “civic capital”, such as trust.

• Recent Developments in Macroeconomics 2018-03-15

  On April 6-7, 2018, EIEF will host the conference on “Recent Developments in Macroeconomics”. For further details see the Program. (Registration is now closed)

• 3rd Economics of Platforms Workshop 2018-03-15

  On April 12-13, 2018, EIEF will host the “3rd Economics of Platforms Workshop”. For further details see the Program. Attendance by registration only within Tuesday, April 10, 2018.

• A new tenured position at EIEF 2018-03-12

  Andrea Pozzi, who joined the Institute in 2009 after completing his PhD at Stanford University, is EIEF’s third tenured Associate Professor. The EIEF faculty would like to send their warmest congratulations on this achievement and wish him all the best for his future career.

• New Working Paper 2018-03-08

  “Fiscal Rules as Bargaining Chips” by Facundo Piguillem (with Alessandro Riboni). More ...

• Funding for research projects 2017-12-28

  EIEF offers funds for research projects in economics and finance to researchers based in Italian institutions. Submit your application by March 15, 2018. More ...